Solar cell manufacturer China Sunergy Co. Ltd. has entered into a supply agreement with REC Wafer for a supply of 156-mm monocrystalline wafers from 2009 through 2015.
The scheduled shipments are expected to begin in early 2009 and be completed at the end of 2015. Total purchases of wafers by China Sunergy from REC Wafer are expected to exceed $400 million over the life of the agreement.
China Sunergy says the partnership with its new supplier will help the company reduce its reliance on the spot market, and it believes that the cost savings involved will ease the pressure it has recently seen on its margins.
SOURCE: China Sunergy